Identify Which of the Following Statements Is True

question 65

Multiple Choice

Identify which of the following statements is true.

• A)A partnership is not required to file a return if the partnership has no income for the year.
• B)The "automatic" extension period for filing an individual return is five months.
• C)Individuals and corporations may obtain six-month extensions for paying taxes and filing their returns for the taxable year by filing the appropriate extension requests.
• D)All of the above are false.

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Definitions:

Merchandise Overnight

A rapid delivery service specifically targeting the overnight shipping of retail goods to customers.

Trade Agreements

Legal contracts between countries that determine the rules of trade between them, often aiming to reduce tariffs and foster increased commerce.

Export Capabilities

refers to a company's ability to sell its goods or services outside its own country, involving knowledge of international markets and logistics.

U.S. Businesses

Companies or commercial organizations based in the United States.